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Ultra wealthy Russians are buying up real estate in the United States,
CNBC reported. Edward Mermelstein, a real estate attorney and
developer, said Many Russian clients of his are now looking to invest
in projects ground-up, particularly in condo developments. Russians
have been behind some of the largest deals in the New York and Miami
residential markets, including fertilizer magnate Dmitry Rybolovlev’s
$88 million penthouse at 15 Central Park West. Russian investors also known to
play by different rules, with a premium on discretion and a tendency
to make all-cash deals. For all of your real estate and business news,
follow me @WoodworthCourt on Twitter. For the Financial News Network Online, I’m Courtney Woodworth.
CNBC reported. Edward Mermelstein, a real estate attorney and
developer, said Many Russian clients of his are now looking to invest
in projects ground-up, particularly in condo developments. Russians
have been behind some of the largest deals in the New York and Miami
residential markets, including fertilizer magnate Dmitry Rybolovlev’s
$88 million penthouse at 15 Central Park West. Russian investors also known to
play by different rules, with a premium on discretion and a tendency
to make all-cash deals. For all of your real estate and business news,
follow me @WoodworthCourt on Twitter. For the Financial News Network Online, I’m Courtney Woodworth.